California’s Proposition 19 Institutes New Property Tax and Transfer Rules

January 8, 2021 In the November 2020 election, California voters narrowly passed Proposition 19, a measure that impacts two major areas related to property tax and property transfer. First, it gives homeowners more flexibility to change residences anywhere within California while retaining their property tax base as long as the new home is purchased within … Continued

State, Local and Property Tax Deductions

The deduction for state and local taxes (SALT) is capped at $10,000 per return. Prior to the Tax Cuts and Jobs Act of 2017, a taxpayer choosing to itemize their deductions had the ability to claim unlimited deductions for their state, local, and property taxes. Beginning in 2018 under the new laws, regardless of the … Continued